In the first federal ruling to examine the scope of an agency relationship between a publicly traded company and a non-publicly traded company necessary to trigger coverage under the whistleblower protection provision of the Sarbanes-Oxley Act, an Eastern District of Pennsylvania judge has allowed a former employee of the non-publicly traded subsidiary of a public company to proceed with his whistleblower suit.
In Wiest v. Lynch, U.S. District Judge Gene E.K. Pratter of the Eastern District of Pennsylvania ruled that plaintiff Jeffrey Wiest sufficiently showed that his former employer, the non-publicly traded Tyco Electronics Corp.—referred to in Pratter’s opinion as “Tyco”—acted as an agent of its publicly traded parent company, Tyco Electronics Ltd.—referred to in the opinion as “Tyco Limited.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
